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OnDemand Course

Handling Multiple Offers in Commercial Real Estate

Understand the structure of the competitive bid process and the inherent risks and costs of multiple bids.

In a competitive acquisition environment it is not unusual for a buyer or seller to be involved in a transaction involving multiple parties desiring to purchase the same property, whether as a result of the seller making the property available for sale only in a competitive bidding process or as a result of multiple buyers making offers to buy a listed property in a similar time period. The existence of multiple potential purchasers presents different issues for the parties involved in the transaction. Sellers need to make sure they have protected themselves from being deemed to have entered into an agreement to sell before having actually selected a buyer's offer. Buyers need to understand the process and how to make their offer the most appealing to the seller. In a strong market, a buyer wants to be able to show that it understands the property and the market, and that it has the ability to perform. This material will review the typical structure of a competitive bid process, the risks and costs inherent in multiple bids, steps a seller may want to take to maximize the potential of choosing the right buyer, and ways in which a buyer can make its offer the most attractive to a seller.

Runtime: 88 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Selling and Buying Property by a Competitive Bid Process

  • Receiving Offers From and Making Offers as a Qualified Bidder
  • Selecting Buyers for Best and Final Round
  • Factors to Consider From or Address in Final Round of Offers

Receiving and Making Multiple Offers

  • Evaluating Offer Terms
  • Seller Inviting Subsequent Offers
  • Addressing Requirements for Acceptance

Factors to Consider

  • Buyer Qualifications
  • Good Faith Deposits
  • Performance Concerns
  • Disclosure of Known Conditions
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on April 30, 2018.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Kenneth S. Kramer

Kenneth S. Kramer

Nossaman LLP

  • Partner with Nossaman LLP
  • More than 35 years of experience as a real estate attorney
  • National practice involves advising developers and investors on a full spectrum of office, industrial, and retail property and portfolio transactions, including acquisitions and dispositions, leasing, financing, joint ventures, workouts and distressed transactions, and alternative energy transactions
  • Former chair of Nossaman’s Real Estate Transactions Practice Group, and is the firm’s current assistant managing partner
  • Lectured on a variety of real estate topics, including purchase and sale transactions and leasing
  • J.D. degree, University of Southern California School of Law; B.A. degree, University of Pennsylvania
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 401211
Published 2018
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